GE to Open Clean-Tech Center in Masdar City

General Electric invests in Abu Dhabi's planned urban center that will rely entirely on solar power and other renewable energy sources.

General Electric is looking to the Middle East for expanding its multi-billion dollar clean-tech project in Abu Dhabi's Masdar City--a British-designed planned urban center that will rely entirely on solar power and other renewable energy sources.

The Connecticut-based industrial giant will form a joint venture with Abu Dhabi's state-sponsored Mubadala Development to conduct research for clean energy and aviation, as well as invest $50 million in the development of the Masdar City itself. According to Cleantech, GE will also aid Mubadala in "providing growth capital to companies in the healthcare, energy, and transportation industries."

"It's a natural to be involved in Masdar City," said Jeff Immelt, chairman and CEO of GE, in a conference call. "We expect to hire probably 100 technologists as that facility gets built and we can house them."